AUD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.7341, 0.7275, 0.7240
Key Support Levels: 0.7412, 0.7463, 0.7500
4- Hours Chart:
The price on the higher time frame is posting lower lows and highs which shows that we are in a clear downtrend. The pair left an inside bar which indicates that after this candlestick a continuation of the downward movement will occur.
AUD/USD Medium-Term Trend: Bearish
On the lower time frame, the pair is traded inside a bearish channel formation. We expect a higher correction toward the higher end of this pattern where the sellers will come back to push the price downward again.
Sell Limit Order @ 0.7371
TP 1 @ 0.7342
TP 2 @ 0.7275
Stop Loss @ 0.7386
Trade Safely 🙂